Apartment vs House: which is right for you?

As a first-time buyer, making the choice between an apartment or house will normally depend on your personal preferences, current needs and long-term goals. But, if you want to get the most out of a new property there’s a range of other external factors that are wise to consider.

We've created this article to help you gain a better insight into the pros and cons of owning an apartment or a house.

Buying an apartment

The pros


According to information from Domain Group (Domain House Price Report March Quarter 2018), the median apartment price in Sydney is $740,041, whereas houses are $1,150,357. Comparatively, the median apartment price in Melbourne was $505,861, with house prices at $914,518. Find your state here.

Cheaper utility bills

Apartments are typically smaller than houses and this generally results in homeowners paying far less for gas and electricity. 

Convenient locations

Often based in cities, the planning behind apartment complexes and higher population density often enables greater public transport connections, shopping precinct access, and additional health and educational centres. 

Additional facilities

Some apartments have a range of onsite facilities for homeowners to make use of, such as gyms, pools, tennis courts, gardens, and playgrounds. The benefits here are the potential reduction of membership fees and travel costs.

Concierge and security

Unlike houses, apartments have more layers of security and may have concierge services that can operate up to 24 hours a day. 

The cons

Strata/Owners’ corporation by-laws

A major drawback of apartment ownership is how restricted you can be by certain regulations. For example, making renovations or owning a pet may be impossible depending on the rules you have to live by.

Strata Fees

Maintenance costs are shared by homeowners in an apartment complex, so you should expect to pay a fee to the owners’ body corporate to cover this.

Reduced living space

More often than not, an apartment will have far less space than a house. This often means compromising on a number of rooms, and most of the time, yard space. 

Buying a house

The pros


Houses comparatively, can provide homeowners with far more living space than apartments as well as basements, garages, and lofts for storage.

Garden space

Having a yard is highly desirable for many homeowners and may provide the opportunity to install house extensions, patios, trees, flowerbeds and more. Families also see great value, particularly when it comes to room for kids to play. 


Owning your own house means you’ll have much more freedom when it comes to redesigning or renovating your property. A bonus, home renovations will likely increase your property’s value should you ever decide to sell it.


Unlike apartments, your neighbour isn’t located through the adjacent wall, ceiling, or floor, which means you’ll be free from noise and disruption. 

The cons

Ongoing maintenance

With a house, you’re going to be responsible for completing the ongoing maintenance requirements and the costs that go along with it. 

Higher utility costs

Due to their generally larger size compared to apartments, houses can generate significant electrical, heating and cooling costs.


So, which do you think is right for you in the apartment vs house debate? Whatever you decide, you can’t afford to overlook the safety net that home loan protection could offer first-time homeowners and property investors alike. 

Whether you choose to buy a home or an apartment, it is important to consider how you could continue your mortgage repayments if you suffered a serious life event. Ask how home loan protection might provide you with peace of mind and request your home loan protection quote here today, or alternatively, get in touch with your local ALI-authorised mortgage broker








Loan Protection Plan is jointly issued by Hannover Life Re of Australasia Ltd ABN 37 062 395 484 (Death, Terminal Illness, Living and Accidental Injury Benefits) and QBE Insurance (Australia) Limited ABN 78 003 191 035 AFSL 239545 (Involuntary Unemployment Benefit). It is distributed by Australian Life Insurance Distribution Pty Ltd ABN 31 103 157 811 AFSG 226403 (ALI). ALI receives commission for each policy sold. Any advice provided is of a general nature only and does not take into consideration your personal objectives, financial situation or needs. You should consider the Product Disclosure Statement when deciding if this product is appropriate for you.

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